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i-flex partner with IZB to provide service to banks
By siliconindia
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Friday, 07 December 2007, 17:46 IST
Munich: i-flex solutions, a provider of technology solutions to the global financial services industry, and Munich based IZB Informatik-Zentrum, an IT and telecommunication service provider for the financial sector, have announced a partnership to provide banking application services to German banks.
i-flex and IZB Informatik-Zentrum will deliver banking application services, including core banking, lending, risk and internet banking functions as well as the integration and allocation of specific German banking services according to German banking regulations, to private and public banks throughout Germany.
IZB Informatik-Zentrum will use i-flex's flagship product Flexcube to deliver value-added application providing services (ASP) tailored specifically for German banks.
"Partnering with IZB Informatik-Zentrum gives us access to a huge share of the German banking market, reinforcing our investment and commitment to the largest banking market in Europe," said Oliver Trancart, CEO of i-flex solutions.
"We are excited that this partnership will bring a completely new offering of IT Services to private banks in Germany. Combining Flexcube, core banking solution, with our 40 years experience in providing operational services to whole-sale and retail banks in Germany will create a-best-in-class service new to the German market," said Dr. Walter Kirchmann, Managing Director, IZB Informatik Zentrum.
IZB Informatik-Zentrum is a subsidiary of Sparkassen Informatik, Frankfurt, an IT service provider for savings banks in Germany and one of the largest IT service providers in Europe.
This announcement comes in the backdrop of banks and financial institutions in Germany looking to outsource their IT infrastructure and maintenance. By opting for banking services delivered on an ASP model, these institutions will be able to focus on their core business functions, thus servicing their end-customers more efficiently, while reducing their overall operational costs.
